India Luxury Hotel Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 9.60% (2024-2032)

Market Size in 2023: USD 2.5 Billion

Market Size in 2032: USD 5.73 Billion

India's luxury hotel market is thriving, fueled by economic growth and rising demand for premium hospitality, offering unmatched experiences and opulence. According to the latest report by IMARC Group, the market reached USD 2.5 Billion in ​2023​. Looking forward, IMARC Group expects the market to reach USD 5.73 Billion by ​2032​, exhibiting a growth rate (CAGR) of 9.60% during 2024-2032.

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India Luxury Hotel Market Trends and Drivers:

The growth of the India luxury hotel market is driven by escalating economic development and increasing disposable incomes among its affluent population. Luxury hotels are expanding across major cities and tourist destinations, catering to the rising number of domestic and international travelers seeking premium accommodations.

Additionally, the business travel sector, bolstered by a thriving corporate environment, is a key driver for luxury hotels, especially in metropolitan areas. Government initiatives, such as "Incredible India," along with infrastructure improvements, are enhancing the appeal of luxury travel, attracting both leisure and business travelers to high-end hotels and contributing to market expansion.

A notable trend in this market is the shift towards personalized and experiential services, as travelers increasingly seek unique, tailored experiences. Luxury hotels are responding by offering curated activities, wellness programs, and local cultural experiences. The market is also benefiting from the adoption of advanced technologies like AI-driven concierge services and smart room features, which enhance guest satisfaction and operational efficiency.

Furthermore, sustainability has become a core focus, with luxury hotels embracing eco-friendly practices such as reducing plastic use, conserving water, and sourcing locally, fostering a positive market outlook. As consumer preferences evolve toward personalized, tech-enabled, and sustainable luxury experiences, the India luxury hotel market is projected to witness sustained growth in the coming years.

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India Luxury Hotel Market Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

1. Business Hotels

2. Airport Hotels

3. Suite Hotels

4. Resorts

5. Others

Breakup by Room Type:

1. Luxury

2. Upper-Upscale

3. Upscale

Breakup by Category:

1. Chain

2. Independent Chain

Breakup by Region:

1. North India

2. West and Central India

3. South India

4. East and Northeast India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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